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COLLECTIVE ACTION CLAUSE [1 record]

Record 1 2004-12-13

English

Subject field(s)
  • Loans
  • Economic Co-operation and Development
CONT

Collective action clauses allow bondholder trustees (for example, a bondholder assembly) to modify the repayment terms of bonds subject the approval of a qualified majority of bondholders (typically, those holding a supermajority of the outstanding debt). By contrast, the unanimous consent of all bondholders is required to revise the terms of repayment (amounts and timing) of a bond issue.

French

Domaine(s)
  • Prêts et emprunts
  • Coopération et développement économiques
CONT

Les clauses d'action collective sont conçues de manière à permettre à une majorité qualifiée de créanciers de modifier les modalités financières d'un processus de restructuration de la dette malgré les objections des créanciers récalcitrants.

CONT

Le premier emprunt d'État assorti de clauses d'action collective similaires à celles qui sont recommandées par le G-10 a été émis sur le marché de New York, marché le plus important en ce qui concerne les émissions d'emprunts d'États.

Spanish

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